The Nigerian Exchange (NGX) extended its bullish momentum on Thursday, with market capitalisation surging to ₦78.73 trillion, an increase of ₦1.76 trillion.
The All-Share Index (ASI) jumped by 2.01%, adding 2,457.13 basis points to close at a new all-time high of 124,446.80 points. While the index and market capitalisation both posted strong gains. Investor sentiment also remained strongly positive, as the NGX recorded its seventh consecutive session of gains.
GTCO’s Listing Fuels Rally
The impact of GTCO’s listing of 2.29 billion ordinary shares at ₦70.00 per share, helped boost the exchange’s market value.
The insurance sector led the charge, climbing +3.96%, followed by the banking sector (+3.86%), consumer goods (+1.15%), industrial goods (+0.25%), and oil & gas (+0.04%).
Trading activity surged, with total trade volume and value increasing by 44.05% and 77.62%, respectively. Investors exchanged approximately 1.28 billion units of shares worth ₦27.73 billion across 27,875 deals. in Thursday’s trading.
Accesscorp Leads Highest Traded Stock
ACCESSCORP topped both the volume and value charts, accounting for 13.62% of total traded volume and 14.38% of total trade value. Other active stocks by volume included AIICO (6.41%), JAPAULGOLD (5.79%), UBA (5.04%), and FCMB (4.95%).
Top Gainers
On the gainers’ chart, FTNCOCOA, HMCALL, UBA, UPDC, CAVERTON, and CONHALLPLC each rose by 10.00%. Other top gainers included REDSTAREX (+9.99%), ABCTRANS (+9.97%), CAP (+9.96%), ELLAHLAKES (+9.95%), and AIICO (+9.95%). In total, 70 stocks gained.
Losers
Only 10 stocks declined with NEIMETH leading the laggards, falling by -9.91%, followed by LEGENDINT (-9.88%), CADBURY (-6.22%), LIVESTOCK (-5.67%), VFDGROUP (-2.86%), and DANGSUGAR (-0.19%).
